SFE Investment Counsel Has $12.05 Million Holdings in Cleveland-Cliffs Inc. $CLF

SFE Investment Counsel cut its stake in Cleveland-Cliffs Inc. (NYSE:CLF) by 9.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 907,330 shares of the mining company’s stock after selling 95,775 shares during the quarter. Cleveland-Cliffs makes up about 1.8% of SFE Investment Counsel’s holdings, making the stock its 15th biggest holding. SFE Investment Counsel’s holdings in Cleveland-Cliffs were worth $12,049,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Strengthening Families & Communities LLC increased its holdings in shares of Cleveland-Cliffs by 4,315.6% during the third quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock worth $25,000 after buying an additional 1,942 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Cleveland-Cliffs by 819.2% during the third quarter. Larson Financial Group LLC now owns 2,684 shares of the mining company’s stock worth $33,000 after buying an additional 2,392 shares in the last quarter. Deseret Mutual Benefit Administrators increased its holdings in shares of Cleveland-Cliffs by 72.6% during the third quarter. Deseret Mutual Benefit Administrators now owns 2,768 shares of the mining company’s stock worth $34,000 after buying an additional 1,164 shares in the last quarter. Westfuller Advisors LLC acquired a new stake in shares of Cleveland-Cliffs during the third quarter worth approximately $68,000. Finally, JPL Wealth Management LLC acquired a new stake in shares of Cleveland-Cliffs during the third quarter worth approximately $72,000. 67.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cleveland-Cliffs

In other Cleveland-Cliffs news, COO Clifford T. Smith sold 200,000 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $10.46, for a total transaction of $2,092,000.00. Following the transaction, the chief operating officer owned 560,529 shares of the company’s stock, valued at approximately $5,863,133.34. This represents a 26.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edilson Camara acquired 19,700 shares of Cleveland-Cliffs stock in a transaction on Friday, February 13th. The shares were purchased at an average cost of $10.13 per share, for a total transaction of $199,561.00. Following the acquisition, the director owned 41,983 shares in the company, valued at approximately $425,287.79. This represents a 88.41% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.95% of the stock is currently owned by corporate insiders.

Cleveland-Cliffs Stock Up 1.7%

NYSE:CLF opened at $10.97 on Thursday. The stock’s fifty day moving average price is $9.40 and its two-hundred day moving average price is $11.44. Cleveland-Cliffs Inc. has a 52-week low of $5.63 and a 52-week high of $16.70. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.64 and a current ratio of 2.02. The company has a market cap of $6.26 billion, a price-to-earnings ratio of -4.69 and a beta of 2.00.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings data on Monday, April 20th. The mining company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.04. Cleveland-Cliffs had a negative return on equity of 15.48% and a negative net margin of 6.42%.The firm had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.84 billion. During the same quarter in the prior year, the business earned ($0.92) EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, analysts anticipate that Cleveland-Cliffs Inc. will post -0.46 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $10.00 price objective on shares of Cleveland-Cliffs in a report on Friday, May 1st. Citigroup raised their price objective on shares of Cleveland-Cliffs from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Glj Research reaffirmed a “sell” rating and set a $9.42 price objective on shares of Cleveland-Cliffs in a report on Monday, March 16th. Morgan Stanley dropped their price objective on shares of Cleveland-Cliffs from $16.80 to $12.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cleveland-Cliffs in a report on Friday, April 24th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $11.77.

About Cleveland-Cliffs

Cleveland-Cliffs Inc is a leading North American producer of iron ore pellets and flat-rolled steel products. Tracing its roots to 1847, the company has evolved from an iron-ore mining concern in the Great Lakes region into a fully integrated steelmaker. Today, Cleveland-Cliffs operates iron ore mining complexes in Michigan and Minnesota as well as steelmaking and finishing facilities across the United States.

The company’s integrated platform begins with direct control of key raw materials, including iron ore and scrap, and extends through every stage of steel production.